Wellington Management Group LLP Raises Stock Holdings in Trevi Therapeutics, Inc. $TRVI

Wellington Management Group LLP lifted its holdings in shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) by 9.5% during the second quarter, HoldingsChannel.com reports. The fund owned 5,684,592 shares of the company’s stock after purchasing an additional 495,504 shares during the quarter. Wellington Management Group LLP’s holdings in Trevi Therapeutics were worth $106,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Trevi Therapeutics during the 2nd quarter worth $208,041,000. Alliancebernstein L.P. grew its position in Trevi Therapeutics by 19,064.5% during the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock worth $23,419,000 after purchasing an additional 4,259,015 shares during the last quarter. Rubric Capital Management LP increased its stake in Trevi Therapeutics by 88.0% in the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after purchasing an additional 3,993,325 shares during the period. Viking Global Investors LP increased its stake in Trevi Therapeutics by 232.4% in the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after purchasing an additional 3,585,875 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Trevi Therapeutics by 95.4% in the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after buying an additional 2,363,835 shares during the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $16.57 on Wednesday. The stock has a fifty day moving average price of $18.01 and a 200 day moving average price of $14.87. The stock has a market cap of $2.36 billion, a PE ratio of -48.74 and a beta of 1.04. Trevi Therapeutics, Inc. has a 1 year low of $6.93 and a 1 year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). As a group, equities research analysts predict that Trevi Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TRVI shares. HC Wainwright raised their price target on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Oppenheimer upped their price objective on Trevi Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. B. Riley Financial lifted their target price on Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $27.08.

Trevi Therapeutics Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.